Software technology company Veriluma has wrapped up its first day of trading on the ASX, after completing a reverse takeover of Perth-based Parmelia Resources.
NSW-based Veriluma completed a $3.5 million capital raising as part of the backdoor listing, priced at 7 cents per share.
At the close of trade today, its shares were worth 9.1 cents each.
Veriluma has developed an application that it describes as a ‘decision-making’ software engine.
The software aims to aid individuals, businesses, governments and their agencies reduce the margin of error in their strategic decision-making by making facts, tested logic and reasoning frameworks more transparent.
It places a strong focus on rapid and accurate assessments on national security and terrorism threats for government agencies.
“Veriluma’s listing on the ASX is a significant milestone for the company and recognition of our innovative and unique prescriptive analytics software,” Veriluma chief executive Elizabeth Whitelock said.
“We look forward to capitalising on this achievement by delivering shareholder value as a listed company.
“The board and management will work diligently to apply the newly raised funds towards commercialisation: business development, marketing, awareness and further product development.
“We will continue to work hard on building solid, scalable commercial partnerships with applications that will deliver significant and effective results across business and government.”